Japan reported its worst GDP on record as the ongoing Covid-19 outbreak dented consumption
Hong Kong Japan just reported its worst GDP on record as the ongoing Covid-19 outbreak dented consumption.
The world's third-largest economy shrank 7.8% in the second quarter compared with the previous quarter, the country's Cabinet Office said on Monday. That translated to an annual rate of decline of 27.8%, the worst since modern records started in 1980 and the third consecutive quarter of contraction.Consumption, which accounts for more than half of Japan's economy, slumped 8.
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